§ 2-9.5-6. Fiscal powers of the Manatee County Civic Center Authority.

(a)

The expenditures of all monies collected or received for the purposes authorized by this chapter to be accomplished shall be accounted for separate from other funds of the county. The authority shall prepare a budget for each fiscal year pursuant to the provisions of Chapter 129, Florida Statutes, which shall include the estimated income and expenditures for the next succeeding fiscal year. Such budget shall include a promotional budget setting forth reasonably anticipated revenues of the authority for the ensuing fiscal year based upon past experience and reasonable projections thereof, including within such budget the revenues from events to be held at the civic center for which the authority will be collecting such revenues, even if on behalf of or as agent for a promoter or other third party. The budget shall be adopted, adopted as amended, or rejected by the authority subject to the general provisions of Chapter 129, Florida Statutes. Promotional activities and events to be reflected in the budget shall include those activities and events to be held at the facilities. Cash payments for promotional events and activities may be allowed in accordance with rules and procedures established by the authority.

(b)

The authority may retain, employ and compensate independent certified public accountants to audit the records or books of account of the authority at least once yearly and at such other times as the authority may deem necessary and to perform such other accounting services as the authority may from time to time direct.

(c)

The authority may borrow money and issue revenue bonds, and provide for the rights of holders thereof, and secure the payment of said bonds by a pledge of all or any portion of the revenues and other moneys available therefor and, in general, provide for the security of the bonds and the rights and remedies of the holders thereof.

(Ord. No. 14-38, § 3(Exh. A), 8-12-14)